Get the best daily market and macroeconomic commentary anywhere for less than $7 per month.
Already have an account? log in
A Deadly Cocktail (But The Factories Are Ok)
At least the manufacturing sector is holding up.
On a day when retail sales posted a "big league" disappointment, factory production showed a 0.9% rise for December, the eighth consecutive monthly increase.
That was better than estimates, and, when juxtaposed with the malaise in leisure and hospitality employment as well as falling retail sales, one is left to ponder a bifurcated economy.
Overall, industrial production for December rose a better-than-expected 1.6%, topping even the most opt
Not a good cocktail times two. If there is to be a next cohort to get riled up, it’s the suburban middle class (all jokes aside, and we do still have one) who have jobs, are raising kids, paying the mortgage, and looking forward to a 2021 Hyundai crossover.